Pension Systems in East and Southeast Asia: Promoting Fairness and Sustainability

This book examines the pension systems of eight countries in East and Southeast Asia and also puts forward both country-specific and region-wide reforms to address two critical areas of pension reform, namely, fairness and sustainability.

Faced with a rapidly aging population, developing Asia must address two critical challenges: maintaining growth and providing adequate, affordable, sustainable income support for the elderly. This book deals with the second issue by examining the pension systems of eight developing Asian countries - the People's Republic of China, Indonesia, the Republic of Korea, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam.

'This book gives much food for thought on how the region can move forward on tackling pension disparities within and across generations.'

Despite their diverse income and development levels, the common concerns in the pension systems of these eight countries are inequity and potential unsustainability.

The country-specific analyses in this book suggest that much remains to be done to achieve fairness and sustainability in the current pension systems. In addition to country-specific measures, common, regionwide reforms are suggested. First, the urgency for addressing the challenges aging populations face must be recognized. Second, delivering pension benefits must be emphasized. Third, the impact of rising longevity on the length of retirement must be managed.

The book's authors hope that by raising awareness on these critical issues and the required reforms, this book may serve as an effective reference for strengthening pension systems across developing Asia.

Contents

Foreword

Introduction

The People's Republic of China

Indonesia

The Republic of Korea

Malaysia

The Philippines

Singapore

Thailand

Viet Nam

Policy Options for Promoting Fairness and Sustainability in East and Southeast Asian Pension Systems

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